Current Price – $3.75/warrant, $11.13/share
Offer – 1 warrant to 0.33 common shares.
Upside – 1%
Expiration date – 11 September 2014
The Offer is to permit holders of Warrants to tender up to 15,000,000 Warrants at an exchange ratio of 0.3333 Shares for each Warrant tendered (approximately one Share for every three Warrants tendered), subject to proration, as described herein.
As of August 13, 2014, the Company had 22,831,263 Warrants outstanding. Each Warrant is exercisable for one Share at